715,000 Shares in DraftKings Inc. (NASDAQ:DKNG) Purchased by Mizuho Securities USA LLC

Mizuho Securities USA LLC acquired a new stake in shares of DraftKings Inc. (NASDAQ:DKNG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 715,000 shares of the company’s stock, valued at approximately $28,028,000. Mizuho Securities USA LLC owned approximately 0.08% of DraftKings at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DKNG. Global Retirement Partners LLC boosted its stake in DraftKings by 0.6% in the 3rd quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock valued at $1,845,000 after buying an additional 273 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of DraftKings by 21.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock valued at $63,000 after purchasing an additional 286 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of DraftKings by 36.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after purchasing an additional 320 shares in the last quarter. Brown Lisle Cummings Inc. increased its position in shares of DraftKings by 32.5% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company’s stock worth $51,000 after purchasing an additional 325 shares in the last quarter. Finally, HighMark Wealth Management LLC lifted its holdings in DraftKings by 18.3% during the 2nd quarter. HighMark Wealth Management LLC now owns 2,129 shares of the company’s stock valued at $81,000 after purchasing an additional 329 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DKNG shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $48.00 price objective on shares of DraftKings in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Oppenheimer cut their price objective on DraftKings from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. JMP Securities increased their target price on DraftKings from $51.00 to $52.00 and gave the stock a “market outperform” rating in a report on Monday, November 11th. Finally, Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of DraftKings in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and a consensus price target of $50.85.

DraftKings Price Performance

Shares of DKNG opened at $39.84 on Friday. The stock has a market cap of $35.00 billion, a P/E ratio of -45.27 and a beta of 1.82. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57. The stock’s 50-day moving average price is $38.35 and its two-hundred day moving average price is $37.94. The company has a current ratio of 1.00, a quick ratio of 1.11 and a debt-to-equity ratio of 1.17.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. On average, equities analysts predict that DraftKings Inc. will post -0.73 earnings per share for the current year.

Insider Activity

In other DraftKings news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total value of $26,544,290.96. Following the transaction, the insider now owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. The trade was a 82.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the completion of the transaction, the insider now owns 2,678,082 shares of the company’s stock, valued at $94,402,390.50. This trade represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,020,536 shares of company stock valued at $39,966,465 in the last quarter. Company insiders own 51.19% of the company’s stock.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.